TCI Limited Receives Rs 81.96 Crore Tax Demand, Plans Legal Challenge
TCI Limited Receives Rs 81.96 Crore Tax Demand, Plans Legal Challenge
Transport Corporation of India Limited, India’s leading integrated multimodal logistics and supply chain solutions provider, recently issued a disclosure to NSE Ltd and BSE Ltd regarding the receipt of a demand order.
Background of the case
The company stated that after the Income Tax Department completed its assessment of its tax return, no changes were made to the income it had originally reported. However, despite this, the department issued a demand notice asking the company to pay around Rs 819,627,360, including interest, and did so without giving the company any prior notice or opportunity to respond.
Key details of the case
| Particulars | Details |
| Issuance Authority | Assessment Unit, Income Tax Department |
| Date of receipt | March 25, 2026 |
| Order received through | |
| Demand | Rs 81,96,27,360 |
Company’s Statement
The company states that it has not violated or gone against any provisions of the order. The assessment order issued to the company does not include any additions to the income originally reported. However, the tax demand raised by the department, along with its calculation, does not clearly explain the reason for the demand or show any related additions. Therefore, it appears that this demand may be due to an obvious error in the records.
Financial Impact
The company stated that it does not have any impact on its financial, operational or other activities.
Company’s Further Step
The company is currently taking steps to correct the issue by filing a rectification application with the concerned Assessing Officer and also submitting an appeal before the appropriate authority. The company believes that the demand raised against it is not valid and plans to challenge it based on strong legal and factual reasons.
Company’s Disclosure Compliance
The above disclosure is made by the company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).